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Feb 27, 2013
02/13
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they also don't feel that good about how president obama and congress are dealing with each other on the issue. more than half say budget talks make them less confident about the economy. that doesn't mean they don't favor budget cuts. 53% do back some move to lower spending. fed chairman bernanke addressed the sequester during his congressional testimony. he says fed policy can't completely offset a drag from fiscal issues. >> cbo estimates it would cost about .6% of growth in this year and the equivalent of 750,000 jobs. would be a drag on near-term economic recovery. more broadly, all of the actions would be a drag of 1.5% points. quite significant. >> right. i hope you heard that. meanwhile, bernanke says a more appropriate measure would be to introduce spending cuts gradually. he's back on capital again. this day he's testifying before the house financial services committee. that begins at 10:00 a.m. eastern. >>> private equity's biggest players have been predicting an uptick in deal activity this year. firms that put idle cash to work. we'll be going to karen in a few minutes f
they also don't feel that good about how president obama and congress are dealing with each other on the issue. more than half say budget talks make them less confident about the economy. that doesn't mean they don't favor budget cuts. 53% do back some move to lower spending. fed chairman bernanke addressed the sequester during his congressional testimony. he says fed policy can't completely offset a drag from fiscal issues. >> cbo estimates it would cost about .6% of growth in this year...
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Feb 26, 2013
02/13
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obama is not keen to see another military invention. that's an opportunity to change the hymn sheet, if you will, for the government to anoind noint another successor. the fact that the talks are happening over engagement, i don't see iran giving up its nuclear program. >> it's good to see you. tina ford, political analyst at italy. still to come, we'll look at consumers being a bit more cautious on spending. what are the high-end stores doing to keep and grow their customer base? we'll be joined by the head of the luxury marketing counsel. >>> you're watching "worldwide exchange." european stocks plunged on the prospects of political gridlock in italy. italian bank stocks lead the way lower. that's after the center left coalition wins the lower house, but no one has secured an obvious majority in the senate. the current government central bank are holding crisis talks. >>> and ben bernanke is heading to capitol hill today to try to provide some soothing words about fed policy and calm the market concerns about weak global growth. >> ve
obama is not keen to see another military invention. that's an opportunity to change the hymn sheet, if you will, for the government to anoind noint another successor. the fact that the talks are happening over engagement, i don't see iran giving up its nuclear program. >> it's good to see you. tina ford, political analyst at italy. still to come, we'll look at consumers being a bit more cautious on spending. what are the high-end stores doing to keep and grow their customer base? we'll...
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Feb 25, 2013
02/13
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first lady michelle obama presenting the film with the top prize, as you saw. >>> what's on the agenda in the united states, there's no economic data today, but invests will be keeping a close watch on capitol hill as ben bernanke testifies before congress on the economy on tuesday and wednesday. atlanta fed president dennis lockhart speaks about the economy this evening. that's at 7:00 p.m. eastern. on the results page, first energy hurts lows, realology, autodesk muck notable names reported today. how are we set up for this week? michael gurka, good to see you this morning. hope you had a good weekend. we snapped the seven week of straight gains for the s&p at the beginning of the year. still, not a bad close on friday. we have the sequester at the end of the week, bernanke at the elsewhere.nd everything else how do you see it playing out? >> well, ross, i wonder if we're going to go satellite hook up to michelle obama again so she can give us the okay on the sequester and then we can put some more glitz to that, also, because that's how you want -- the market has jitters right now.
first lady michelle obama presenting the film with the top prize, as you saw. >>> what's on the agenda in the united states, there's no economic data today, but invests will be keeping a close watch on capitol hill as ben bernanke testifies before congress on the economy on tuesday and wednesday. atlanta fed president dennis lockhart speaks about the economy this evening. that's at 7:00 p.m. eastern. on the results page, first energy hurts lows, realology, autodesk muck notable names...
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Feb 13, 2013
02/13
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. >>> and president obama uses his state of the union speech to urge congress to end the battle over the budget and work together to boost the u.s. economy and help the middle class. >> together we have cleared away the rubble of crisis. we can say with renewed confidence that the state of our union is strong. >>> there we go. >> who doesn't love to kick off a wednesday morning with the iea monthly oil report? >> they have lowered their oil demand growth expectations on weaker gdp forecasts. demand growth, 840,000 barrels a day in 2013. they've cut the forecast for opec crude to 29.8 million barrels a day. they say oil supply will hit a 12-month low in january. >> can we show crude and look at the reaction there? we'll take a look in one second. what else are they saying in this report? >> they say the non-opec supply will be rising. opec supply will be falling. non-opec supply is rising, one million barrels a day this year. then they talk about iran oil production hovering below the lowest in 30 years. new sanctions could see further declines in iranian output. they say the sanction
. >>> and president obama uses his state of the union speech to urge congress to end the battle over the budget and work together to boost the u.s. economy and help the middle class. >> together we have cleared away the rubble of crisis. we can say with renewed confidence that the state of our union is strong. >>> there we go. >> who doesn't love to kick off a wednesday morning with the iea monthly oil report? >> they have lowered their oil demand growth...
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Feb 12, 2013
02/13
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you saw president obama calling for swift reaction. india saying reports of the nuclear test are a matter of deep concern according to a foreign ministry statement. >>> moving down to conco which has expressed solidarity with its ceo who has just been arrested for alleged bribes. shares have just resumed trade in malan. now, ross, they're down something less than 9%. we did see closer to a 15% decline earlier. over to you. >> thanks for that, kelly. here we are just over an hour into the trading day in europe. pretty even stevens, actually. we're keeping our focus in the uk on barclay's. as we are on the xetra dax and the ibex and the cac 40. so no clear direction, as you can see. now, the nikkei was trading again today. let's show you where we've finished with the nikkei. up 2%. this morning, the yen was weakening again. we've seen it down against the dollar. we were bound at those may 2010 lows yesterday. shanghai composite up 0.5%. the hang seng up slightly, as well. we were flat in australia and the kospi down slightly flat. the au
you saw president obama calling for swift reaction. india saying reports of the nuclear test are a matter of deep concern according to a foreign ministry statement. >>> moving down to conco which has expressed solidarity with its ceo who has just been arrested for alleged bribes. shares have just resumed trade in malan. now, ross, they're down something less than 9%. we did see closer to a 15% decline earlier. over to you. >> thanks for that, kelly. here we are just over an hour...
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Feb 28, 2013
02/13
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now, president obama and republicans are digging in their heels just one day before the sequester kicks in. the president will host congressional leaders at the white house tomorrow, but expectations are pretty low the meeting will result in a deal to avoid the $85 billion in spending cuts. those would be phased in gradually. gun reducing costs are telling employees how furloughs would work. most federal workers require 30 days before they can be furloughed. for more joining us now is robert. welcome. just on this point about the u.s., we've seen markets not just holding up, but, in fact, doing quite well ahead of the sequester. why is that? >> well, i think there's an underlying -- there's real underlying evidence of the strength in the u.s. economy, which is partly allowing markets to look through what are clearly concerns about tightening in this economy. >> it's one thing that the u.s. is leading the recovery, perhaps leading this leg of the expansion. is it important in that sense? >> of course, the u.s. economy is not much bigger than japan, so it's always going to be more importa
now, president obama and republicans are digging in their heels just one day before the sequester kicks in. the president will host congressional leaders at the white house tomorrow, but expectations are pretty low the meeting will result in a deal to avoid the $85 billion in spending cuts. those would be phased in gradually. gun reducing costs are telling employees how furloughs would work. most federal workers require 30 days before they can be furloughed. for more joining us now is robert....
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Feb 21, 2013
02/13
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he's hoping president obama likes his abe-nomices, so to speak. a summit with the two leaders will be held on friday where prime minister abe is expected to deliver a policy speech entitled, "japan is back." tomo is joining me now. thanks so much for your time. is japan back? >> that's a good question. i think japan is certainly back and with the depreciation of the yen and higher stock prices, the market reacts at least that way and we think that this will impact on our financial market is going to filter through to the real economy anytime soon. >> this is the interesting point. it's one thing for investors to bid up the nikkei, to push down the yen in anticipation of the bank of japan will be extremely aggressive. we'll deliver on its inflation target. it's another to actually deliver. have we moved on that phase now where they have to deliver and how likely is it that they can? >> well, we are going to see a new governor and the two deputy governors in april. so, well, i think regardless of who is going to be the next governor, the bank of jap
he's hoping president obama likes his abe-nomices, so to speak. a summit with the two leaders will be held on friday where prime minister abe is expected to deliver a policy speech entitled, "japan is back." tomo is joining me now. thanks so much for your time. is japan back? >> that's a good question. i think japan is certainly back and with the depreciation of the yen and higher stock prices, the market reacts at least that way and we think that this will impact on our...
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Feb 20, 2013
02/13
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obama based on understanding the economic impact of people not coming to the u.s. basically instructed the state department to make changes. >> china isn't helping itself with all of the headlines with hacking and its involvement in spying potentially. maybe all allegations. but if there's political concern from the top about opening whether for tourism or work more generally, this is maybe a difficult time to make the sell. >> it's difficult. that's always the excuse that the interior ministries come out with. we produced research last year just inside the g20 countries. if the u.k., india, china, and u.s. relax some of these visa policies, it would create another five million jobs, bring another $60 million of income into the countries. security forces and interior ministers need to do their work, keep the border safe. equally, they need to relax visas and automate them, make them electronic. >> there's talk that it might be scrapped -- >> i don't think that will happen. the agreement for visas is robust. as a consumer flying into the countries, it's perfect. you
obama based on understanding the economic impact of people not coming to the u.s. basically instructed the state department to make changes. >> china isn't helping itself with all of the headlines with hacking and its involvement in spying potentially. maybe all allegations. but if there's political concern from the top about opening whether for tourism or work more generally, this is maybe a difficult time to make the sell. >> it's difficult. that's always the excuse that the...
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Feb 11, 2013
02/13
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president obama has declared connecticut a state of emergency room. local public schedules should be back on service. laura champagne, thank you for joining us. >> good morning. thank you for having me. >> we wanted to explore the impact from retail on this storm. we've raised this issue before, but to what extent is a major storm like this hitting into february start to affect, perhaps, easter season, retail and shopping patterns generally speaking? is there a way to sort of trade this event? >> this particular weekend is a good weekend if you're going to have a nasty storm. it's after christmas selling season, it's after january clearance. it's before tax rebates start showing up, particularly this year, which is a bit more complicated to get your refund. so the timing really won't hurt much of retail. if you wanted to trade it, probably the way to do it would be to own home improvement companies because home depot and lowes, i'm sure, did see a pick up in their sales before this storm. >> so february being the kind of in between or quieter time as
president obama has declared connecticut a state of emergency room. local public schedules should be back on service. laura champagne, thank you for joining us. >> good morning. thank you for having me. >> we wanted to explore the impact from retail on this storm. we've raised this issue before, but to what extent is a major storm like this hitting into february start to affect, perhaps, easter season, retail and shopping patterns generally speaking? is there a way to sort of trade...
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Feb 19, 2013
02/13
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prime minister ship zoe abe will leave for washington this thursday to meet president obama and will return to japan on sunday. abe will likely pick the possible candidate after returning to japan. abe's pushing for aggressive monetary easing. he will bick a nominee who supports his vision to achieve the 2% inflation target. the leading candidates for the boj governor include toshiro muto. a another prominent county is haruhiko kuroda. the asian development bank's president for a 2% inflation target and was a top currency diplomate in the late 1990s. kazamata iowata is a strong candidate. he's an advocate of more quantitative easing. the current boj chief will step down on march 19th. back to you, kelly. >> let's get a view on this from michael plasnik. so where does the yen go from here? >> i think it's important to take into context the comments made by abe and aso. you have to reverse engineer the situation. they're not going to be able to hit a 2% inflation without a significant yen weakness. so they need the yen to weaken about 40%, auto% in order to get 4% inflation over a two-
prime minister ship zoe abe will leave for washington this thursday to meet president obama and will return to japan on sunday. abe will likely pick the possible candidate after returning to japan. abe's pushing for aggressive monetary easing. he will bick a nominee who supports his vision to achieve the 2% inflation target. the leading candidates for the boj governor include toshiro muto. a another prominent county is haruhiko kuroda. the asian development bank's president for a 2% inflation...
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Feb 22, 2013
02/13
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president barack obama later today. abe is looking for u.s. backing with japan's diplomatic disputes with china. meanwhile, abe wants to clarify the terms of entry into a trans-pacific trade pack and win america's blessing for his aggressive economic stimulus. >>> mauri taylor is standing by comments calling french workers lazy and overpaid. speaking to our colleagues on u.s. closing bell last night, he defended his decision to write a letter to the u.s. government refuse to go buy a tire company on the verge of collapse. >> the minister was trying to use us as a billy club, figuring that most ceos will not say anything. they just keep quiet. b but, you know, he picked the wrong guy and i'm going to tell him what it is. what i said was true. and they admitted it. they laughed about it, okay. and that's where this union president, this michael -- i call him spike because he's got his hair all up. they're devout commis and they said that's the french way and i said well, i'm not going to do it if it's going to lose money and that's what you're a
president barack obama later today. abe is looking for u.s. backing with japan's diplomatic disputes with china. meanwhile, abe wants to clarify the terms of entry into a trans-pacific trade pack and win america's blessing for his aggressive economic stimulus. >>> mauri taylor is standing by comments calling french workers lazy and overpaid. speaking to our colleagues on u.s. closing bell last night, he defended his decision to write a letter to the u.s. government refuse to go buy a...
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Feb 4, 2013
02/13
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. >>> president obama says more tax revenue will be needed to help reduce the deficit. he'll push to get rid of loopholes such as the carried interest tax break enjoyed by private equity firms and hedge funds. >> i don't think the issue right now is raising rates. the question is, if we're going to be serious about reducing our deficit, can we combine some smart spending cuts, because there's still waste in government, can we reform our health care programs in particular because we spend a lot more on health care than every other country does and we don't get better outcome. so there's a lot of waste in the system and there are things that we can do to reduce health care costs. >> asked about the contraction in fourth quarter gdp in the u.s., president obama blames the dysfunction in washington surrounding the fiscal cliff. a sharp drop in spending did over-shadow strong housing data. it followed unexpectedly strong defense spending in the fourth quarter. maybe some positive news there. tina, from citi, she's been taking a look at what the president has to do, i guess,
. >>> president obama says more tax revenue will be needed to help reduce the deficit. he'll push to get rid of loopholes such as the carried interest tax break enjoyed by private equity firms and hedge funds. >> i don't think the issue right now is raising rates. the question is, if we're going to be serious about reducing our deficit, can we combine some smart spending cuts, because there's still waste in government, can we reform our health care programs in particular because...
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Feb 7, 2013
02/13
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. >>> is obama care just what the doctor ordered? we'll be talking live to mark parkinson over his concerns about the health system in the u.s. when we come back. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. >>> some of the other stories we're following today, credit suisse stock is higher after the group reported weaker than expected profits on the back of lower revenue from its investment banking unit. carolin has been tracking the results. she joins us for more in a snowy zurich. >> in a very, very cold zurich. a lot of one offs to get through like restructuring costs and accounting charges, credit charges. but let's continue the discussion with the head of financials research at sarasin. good morning to you. thank you so much for bra
. >>> is obama care just what the doctor ordered? we'll be talking live to mark parkinson over his concerns about the health system in the u.s. when we come back. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond...